Ceva Logistics News

27 Nov 2019

CMA CGM to Raise $2bn Via Selling Terminal, Ships

Pic: CMA CGM

French container shipping giant  CMA CGM plans to sell selected port terminals, ships and other assets to raise roughly $2 billion to finance its acquisition of CEVA Logistics, according to Reuters.Chinese state-owned conglomerate China Merchants Port has entered into a Memorandum of Agreement (MOA) with CMA CGM to acquire interests in a portfolio of 10 terminals from the French container line and its affiliates via Terminal Link for a total consideration of $955 million.As part of the deal…

14 Nov 2019

CEVA Logistics Opens Marseille HQ

© CMA CGM

On the occasion of his visit to Marseille for the National Industry Council, Prime Minister Edouard Philippe came to inaugurate the new global headquarters of CEVA Logistics, a subsidiary of the CMA CGM Group, with Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group.The Prime Minister was accompanied by Elisabeth Borne, Minister for the Ecological and Inclusive Transition, the President of the South Region, Renaud Muselier, and Nicolas Sartini, Chief Executive Officer of CEVA Logistics.With the acquisition of CEVA Logistics in May 2019…

26 Sep 2019

Moody's Downgrades CMA CGM's Rating

Pic: CMA CGM Media Gallery

Global ratings agency Moody's has downgraded the corporate family rating of French shipping major CMA CGM due to its "materially weaker" liquidity. The rating was downgraded to B2 from B1.Concurrently, the company's senior unsecured ratings were downgraded to Caa1 from B3. The outlook was changed to stable from negative."Today's rating action reflects that CMA CGM's liquidity profile has weakened materially in the last 12 months as a consequence of the acquisition of CEVA Logistics AG…

06 Sep 2019

2Q Red Ink for CMA CGM Again

A CMA CGM boxship underway in a file image (CREDIT: CMA CGM)

CMA CGM, the world's fourth-largest container shipping firm, reported a second straight quarterly loss as its takeover of CEVA Logistics weighed on its results, but said its business volumes remained strong thanks to growth in the U.S. economy.The French-based group said on Friday that it expected a better second half of the year, supported by previously announced plans to reduce costs and reorganise its shipping services.CMA CGM said it made a second-quarter net loss of $109 million…

02 Aug 2019

CEVA Logistics Implements Turnaround Plan

Rodolphe Saadé, Chairman CEVA Logistics. Photo: CMA CGM Group

Following the friendly takeover bid for CEVA Logistics, the CMA CGM Group has implemented a turnaround plan which includes a new governance, a new brand identity and priorities reset. CEVA’s new operations center opened in Marseilles.The CMA CGM Group now holds 99.6% of CEVA's equity. Structural decisions have been made during the second quarter of 2019 to enable CEVA’s financial recovery and create the conditions of a solid and successful turnaround.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group…

29 May 2019

CMA CGM's Turnaround Plan for CEVA

Pic: CMA CGM

Following the friendly takeover bid for the contract logistics and freight management solutions provider CEVA Logistics, the French container transportation and shipping giant CMA CGM Group now holds 99.4% of CEVA's equity.The shipping Group is resolutely committed to CEVA's financial recovery, and has already taken major structural decisions paving the way for CEVA’s rapid return to profitability.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group, was elected…

30 Apr 2019

CMA CGM Reshuffles CEVA Logistics Management

Image: CEVA Logistics

French container transportation and shipping giant appointed its Chairman and CEO Rodolph Saade as the new chariman of Swiss third-party logistics provider CEVA Logistics, thus asserting its near-full control over CEVA.Nicolas Sartini, who currently holds the position of Group Chief Operating Officer and Deputy CEO of CEVA is appointed Chief Executive Officer as from June 1st. He will bring his experience and expertise to CEVA as it embarks on a new journey. He will replace Xavier Urbain who will become Executive Advisor to Rodolphe Saadé.Marvin O. Schlanger, Victor Balli, Dr.

10 Apr 2019

CMA CGM Finalizes Ceva Logistics Tender

Pic: CMA CGM

French shipping giant CMA CGM has completed its public tender offer to acquire CEVA Logistics.The French carrier has confirmed the acquisition of Ceva Logistics after announcing it holds 97.89 percent of the company’s stock and will therefore de-list it from the Zurich Stock Exchange after April 16."Merging CEVA's operations into the CMA CGM Group will strengthen its position as a worldwide leader in maritime transport and logistics. Present in 160 countries, the Group will be 110…

15 Mar 2019

CMA CGM Forms Venture with MACCFA

France's CMA CGM has signed a letter of intent to form a joint venture with Ethiopian company MACCFA, as well as a letter of intent with ESLSE to manage Ethiopia's Modjo port, according to a document made available by the French President's office.Marseille-based CMA CGM, one of the world's largest container shipping lines, recently became the core shareholder in Ceva Logistics, with the company looking to expand in non-maritime freight services. (Reuters, Reporting by John Irish; Editing by Sudip Kar-Gupta)

01 Mar 2019

CMA CGM Books Rrecord Revenue

(Photo: Eric Haun)

French container shipping group CMA CGM booked record revenue in 2018 as trans-Pacific goods traffic remained buoyant despite U.S.-Chinese trade tensions, but soaring oil prices cut deep into its profits, it said on Friday.The firm's 2018 volumes rose by 9.3 percent and for the first time exceeded 20 million TEUs (Twenty-foot Equivalent Units) due to a strong performance of most of the shipping lines operated by the group, in particular the Transpacific, India/Oceania and Africa lines.Full-year revenue grew 11.2 percent to a record $23.48 billion…

12 Feb 2019

CMA CGM Aims for Ceva Logistics Breakeven in 2019

Photo: Ceva Logistics

CMA CGM is aiming for Ceva Logistics to break even this year, its finance chief said on Tuesday, as the French shipping group opened a share offer to cement its control of the Swiss freight specialist.CMA CGM's public tender will offer other shareholders 30 Swiss francs ($29.75) per share, valuing Ceva at 1.67 billion francs, a price agreed after Ceva rejected a takeover bid in October from Danish freight firm DSV.Marseille-based CMA CGM, one of the world's largest container shipping lines, became Ceva's core shareholder when the Swiss company floated on the Zurich stock market last year, as p

26 Nov 2018

CEVA Logistics Acquires CMA CGM Log

Pic: CMA CGM

CMA CGM is selling its freight management company CMA CGM Log for $105 million to the Swiss company CEVA Logistics. Recently CMA CGM has acquired a 30% stake in Ceva Logistic. CEVA will remain an independent and standalone listed company. This strategic partnership is aligned with CMA CGM's strategy to offer end-to-end logistics solutions to its customers, pioneering the development of integrated logistics solutions, while retaining an arm's length business relationship with CEVA.The…

23 Nov 2018

CMA CGM to Accelerate Logistics Strategy with CEVA

Pic: CMA CGM

French container transportation and shipping company CMA CGM said that by strengthening the partnership with the global logistics supply chain company CEVA Logistics,  it is actively engaging its logistics strategy.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group said: "Our ambitious development project for CEVA was approved by its Board of Directors. Subject to approval from the regulatory authorities, this project will accelerate CEVA’s transformation…

25 Oct 2018

CMA CGM to Buy Ceva Logistics

Pic: CMA CGM

French shipping group CMA CGM has made a voluntary public tender offer to Swiss transport company  Ceva Logistics as part of its strategy to “broaden their partnership and sign a new relationship agreement”CMA CGM has been Ceva Logistics’ reference shareholder since its listing on the SIX stock exchange in May 2018. CMA CGM signed a new relationship agreement with Ceva on Wednesday October 24th to reinforce the industrial cooperation between the two companies.All the Ceva shareholders…

11 Oct 2018

CMA CGM Says No Plans to Take Over Ceva Logistics

(Photo: Ceva Logistics)

French shipping company CMA CGM has no plans to launch a full takeover for Ceva Logistics after the Swiss transport company on Thursday said it had rejected a $1.5 billion takeover offer from a third party.CMA CGM, Ceva's biggest shareholder with a 25 percent stake, has now been allowed to increase its holding to one third -- the trigger point where it would have to launch a full takeover under Swiss regulations."The end of the standstill agreement means CMA CGM now has the right to increase its shareholding in Ceva…

20 Apr 2018

CMA CGM to Acquire 25% Stake in CEVA

Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group

French container shipping company CMA CGM said on Friday it would buy a stake of around 25 percent in Ceva Logistics, which is being listed on the Swiss stock market.CMA CGM said that as part of this process, it would subscribe to a 380-450 million Swiss francs ($463 million) convertible bond offering by Ceva Logistics.CMA CGM, which is controlled by the Saade family and is one of the world's biggest container lines, said the stake would complement its existing maritime transport businesses.CMA CGM acquired Singapore-based APL line in 2016 and was part of last year's launch of vessel-sharing p

21 Sep 2016

Hamburg Süd is Ocean Supplier of the Year

Photo: Hamburg SĂĽd

In August 2016, CEVA Logistics honored Hamburg Süd with the Ocean Supplier of the Year award for 2015. CEVA is one of the world’s leading non-asset-based supply chain management companies. Hamburg Süd was recognized for its strong global relationship with CEVA in combination with its dedication to ongoing operational excellence. “This award is in recognition of Hamburg Süd’s exceptional carrier services at a global and local level. The line has reinforced CEVA’s commitment to…

28 Apr 2015

CEVA Appoint Two Sr Executive

Both Friso Bakker and Michel Vachey will report to Brett Bissell, CEVA's Chief Operating Officer for Contract Logistics,

Hoofddorp, the Netherlands, 27 April, 2015 – CEVA Logistics, one of the world's leading supply chain companies, today announced the appointment of two senior executives with deep sector-specific operations expertise to further drive its customer-focused Contract Logistics strategy. In its Contract Logistics business line, CEVA has established an industry sector and solutions approach led by industry operations experts in Automotive, Industrial, Technology, Consumer and Retail, Healthcare and Energy.

28 Oct 2014

Finning Opens National Distribution Center

Photo courtesy of Finning

Finning has opened its £8 million purpose-built National Distribution Center in Cannock to support its continued customer growth in after sales support and maintenance. The warehouse facility in Cannock houses all of the dealership’s engines plus 60,000 different product lines, all of which are available for next day delivery. In addition the company has worked with their transport and logistics provider to replace eight of their existing trailers with new higher spec vehicles.

29 Oct 2014

CEVA and L’Oréal Extend Relationship in Indonesia

.

CEVA Logistics, a leading global supply chain management company, announced a contract renewal and expanded business with L'Oréal in Indonesia, the world's leading beauty brand. CEVA's partnership with L'Oréal started more than 3 years ago when the company took on the warehouse management of L'Oréal's distribution centers in Bekasi, providing warehousing and distribution services as well as value added services. Under the terms of this renewed contract, CEVA will handle the warehouse management…

19 Nov 2014

CEVA is SuperGroup's Freight Manager

SuperGroup is a distinctive branded UK fashion retailer

CEVA Logistics, one of the world’s leading supply chain management companies, has been awarded a long term contract to provide freight management services to SuperGroup, owner of famous fashion brands including SuperDry. The contract award followed a competitive tendering process that included more than ten major global logistics providers. Under the new contract, CEVA will manage collections from the company’s many suppliers by air, sea and road. It will then provide airfreight and oceanfreight on forwarding services from around the world and the main sourcing areas of China…

15 Jan 2015

CEVA Again "Logistics Co. of the Year"

image

CEVA Logistics, one of the world's leading supply chain companies, has been named Logistics Company of the Year in Italy for the fifth time by Assologistica, the leading Italian association of logistics companies. This year's award was given in recognition of CEVA's TechCity - a logistics hub dedicated to the warehousing, handling and cross-docking of products for the electronics sector - which was opened in June 2014. TechCity covers an area of 90,000 sq m and is strategically-located in Pognano, in the province of Bergamo.

23 Jan 2015

CEVA Opens 4th Chicago Office

Logo

CEVA Logistics, one of the world's leading supply chain management companies, has expanded its market presence in Chicago with the opening of a fourth facility. The company's Chicago operations near O'Hare International Airport (ORD) now encompass four facilities totaling over 650,000 sq. ft. (60,387 sq m) and 115 total dock doors. The new, 208,406 sq. ft., multi-use logistics facility features state-of-the-art security including a 128-camera CCTV system, gate and access control, and security on duty inside the building on a 24x7 basis. The facility has 30 dock doors and two van ramp doors.

Maritime Reporter E-News subscription

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week

Subscribe for Maritime Reporter E-News